SHORTLY, CONCISELY AND CLEARLY – familiarize yourself with the main news  

2016 | Leinonen Lithuania

Smart Tax Administration System i.MAS -

3 major obligations as a result of which companies may be caused to sustain significant IT costs

Dear Reader,

In previous newsletters we informed that the State Tax Inspectorate is developing a smart tax administration system i.MAS that aims to combat the shadow economy, to reduce administrative burden for taxpayers, to boost taxpayers’ income accounting, tax collection and operative effectiveness of tax administrators. Accordingly, taxpayers will be obliged to provide to the State Tax Inspectorate with more information on their activity.

In April 2016 State Tax Inspectorate published the approved rules for data presentation. Therefore, companies must begin to prepare, i.e. review their procedures, assess additional incidental time costs related to the new obligations and make decisions in terms of the improvement of their accounting systems. As a result companies may require external IT specialists support in order to comply with forthcomming novelties.

Every client is special to us and we try to help everyone in every way we can.

This year Leinonen Group celebrates 20th anniversary of operations in Lithuania. We would like to thank all Leinonen Lithuania business partners for the cooperation and their trust in us. We are happy to assist each company and its leaders in management of accounting and tax policy - for just starting a business or having extensive business history.

We hope to have the honour of the cooperation with you for many decades ahead!

We wish you success and business thrive!

We are ready to share our knowledge and experience with business people, financial specialists and other persons who could be interested in it.

Are you interested to find out how we can help you? Please contact:

MAZENA BIRBALIENE

Head of Advisory Unit

tel. +370 656 51728

e-mail: mazena.birbaliene@leinonen.lt

LINA LAPYTE

Senior Tax Advisor

tel. +370 618 79158

e-mail: lina.lapyte@leinonen.lt

Leinonen Group is a Finnish-owned private accounting and advisory company, which was established already in 1989. Leinonen Group helps companies enter and succeed in challenging business environments by offering reliable accounting, payroll management, advisory, administration, and audit services. The deep local expertise and personal service approach, combined with wide international presence, is our strength. Our 13 offices can be found in the main cities of 11 countries – Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Poland, Bulgaria, Hungary, Russia, and Ukraine.

Read more: www.leinonen.eu

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Best Regards

Leinonen Lithuania

Vilnius | Kaunas

+ 370 5237 5040

leinonen@leinonen.lt

www.leinonen.lt